Exploration of the Bellavista, Costa Rica, gold property in the Caribbean, a joint-venture project, has revealed to date reserves of 4.1 million tons grading 0.12 oz per ton.
The joint-venture companies involved are Rayrock Yellowknife Resources, Midland Energy and Westlake Industries.
A program of surface trenching and drill-site preparation with a bulldozer is continuing, Midland President Larry Reaugh reports. A major reverse circulation drilling program to confirm estimated reserves and to test for extensions will begin in the near future.
The joint-venture interests are 60% Midland and 40% Westlake, with Rayrock having the right to acquire a 30% joint venture interest from Midland by spending $1.5 million on exploration on Midland’s behalf.
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